- Get the best foreign exchange rates available from this online marketplace
- Fast 1-2 day delivery to bank accounts
- Price-match guarantee if you find a better price elsewhere
Though it may sound daunting to transfer tens or even hundreds of thousands to another country, it’s actually easier than it seems. Banks can be helpful when sending a large money transfer, but they also tend to charge high fees and offer poor rates.
Instead, opt for a specialist money transfer provider that will give you better rates, lower fees and a better service throughout the transfer.
Depending on the amount of money you are transferring, the exchange rate can have a significant effect on how much money you are receiving. Using a Pound-to-Euro example, we have drawn up a table to show how much this can affect the amount of money you receive.
Some providers will let you lock-in on a rate, or offer to alert you once a desired rate is on the market. However, this is provider specific, and can be something to consider when choosing who to transfer your money with.
Some international transfer providers specialise in large sums of money more than others. When picking a provider, it’s important to keep in mind not only the rate you are getting and fees they are charging (if any), but also the quality of the service. See below some of the providers that specialise in transferring large sums of money.
TorFX is a strict money exchange and transfer company that focuses on getting your funds where they need to go quickly. Unlike other services, it requires that funds to be cleared by individuals who hold TorFX accounts. The money must be sent in advance before the transaction can be performed. TorFX cares about its customers, with clarity and friendly service two of its highest priorities.
Currencies Direct is an international money transfer service dedicated to helping its customers save more when transferring money internationally. With 39 currencies to choose from (and others that can be discussed with the company itself), it is more flexible than other money transfer services. So long as there’s a bank account available, Currencies Direct will transfer and exchange your funds at a low flat rate.
Global Reach offers international money transfer solutions to customers in the UK and around the world, handling over £4Bn in transactions since its inception in 2005. Global Reach offer a ‘Best Exchange Rate Guarantee’, offering affordable transfers with excellent customer service.
CurrencyTransfer offers a live marketplace in which foreign exchange companies compete for your business. You just input the details of your desired transfer into its online platform and it will fetch quotes for you from a range of different suppliers in a matter of minutes.
Most providers can realistically deliver your funds within a day, though allowing for 2-3 days is advised. For more information regarding same-day transfers, see our Same Day International Money Transfers guide.
While smaller transfers with certain providers like Azimo can be picked up with cash, large transfers must be placed in the recipient’s bank account.
Fee payments vary from one provider to the next, but with large transfers fees can sometimes be waived and you can get preferable exchange rates. For more information about the fees, compare money transfer providers now and see where you can get the best deal.
When considering moving large sums of money, fees and rates are not all you should take into consideration, but also the quality of the service offered, as this may be the beginning of a long-term relationship between you and your FX provider.
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